BITCOIN / U.S. DOLLAR
Price Analysis
Bitcoin is trading above both, its twenty-day exponential MA, and the basis (middle line) of Bollinger Bands. The bulls are trying their best to take the price above $11,000 level but seem to gather more strength. As Bitcoin makes a long-legged Doji candle again, we are not sure of the next step due to the indecision. The bulls trying to push the price above $11K made high just a few points above it at $11,064 and closed the price just below it at $10,957 on Friday, 18th September 2020. They are not allowing the asset to slip down below its 20-day EMA and basis of BB by buying back the low at $10,825 today. As the twenty-day EMA has begun to slope up, the bulls need to increase momentum to take BTC back above the $11,000 resistance.
As the trading volume reduces a little, we can expect Bitcoin to consolidate around the $11K mark for a few more days before it escalates upwards.
Key points to mark:
Immediate resistance that BTC is facing = $11,000. If the bulls take the price above this level, it will test $11,273.8 (50 MA), followed by $11,500 before rising to $11,826 (upper BB) and $12,325 resistance levels.
Immediate support that BTC is facing = $10,801.8 (20 EMA) + $10,729 (basis of BB) . If the price falls below these levels, $10,500 will be tested, followed by $10,000 support, before it goes down to $9632.5 (lower BB) support.
Indicators
The MACD line has sloped up crossing above the signal line and nearing 0. RSI has slightly sloped down but remains above the midpoint at 52 with bulls in demand.
ETHEREUM / U.S. DOLLAR
Price Analysis
Ethereum is currently trading between the basis (middle line) of Bollinger Bands and its fifty-day MA above the $380 level. The bulls are trying to push the price above its 50-day MA towards the $410 resistance level. They made a high exactly at $393 and closed the price just above the basis of BB at $384.9 on Friday, 18th September 2020. The bulls are currently not allowing the asset to slip down below the $380 mark by buying the low from a few points below it at $375.7 today. As the fifty-day MA goes on sloping up, the bulls need to gain more strength to take ETH into the upper half zone of Bollinger Bands to witness higher levels soon.
Key points to mark:
Immediate resistance that ETH is facing = $392 (50 MA). If the bulls can take the price above this level, ETH will test $410 before rising to $437 and then $453.8 (upper BB) resistance levels.
Immediate support that ETH is facing = $383 (basis of BB) + $378.9 (20 EMA). If the bears push ETH below these levels, it will test $365, followed by $316.5 + $312 (lower BB) before going down to test the $288.7 support level.
Indicators
The MACD line has sloped up moving towards 0 above the signal line. RSI has sloped down at 51 indicating bulls still have the upper hand.
RIPPLE / U.S. DOLLAR
Price Analysis
Ripple continues to trade between the $0.255 to $0.241 levels and the bulls continue to try their best to push the price above $0.255. The bears seem to strongly hold the $0.255 level for the past two weeks, not allowing the cryptocurrency to scale above it. Bulls could only make a high exactly at $0.255 and also closed the price below the basis (middle line) of Bollinger Bands and the twenty-day exponential MA at $0.251 on Friday, 18th September 2020. The bulls are trying to save the asset from slipping below the lower support of $0.241 by buying the low from a few points above it at $0.246 today. Only when the bulls overpower the bears that have strongly mounted themselves at the $0.255 mark, can Ripple enter the upper half region of the Bollinger Bands. Otherwise, XRP might sink below the lower support after these continuous consolidations.
Key points to mark:
Immediate resistance that XRP is facing = $0.255. If the bulls push XRP above this level, $0.271 + $0.274 (50 MA) will be tested, followed by $0.285 + $0.286 (upper BB), before rising towards the $0.309 resistance level.
Immediate support that XRP is facing = $0.241. If the bears push XRP below this level, it will test $0.218 (lower BB), before declining below the $0.200 support level.
Indicators
The MACD line has sloped up and crossed above the signal line, both still moving in negative values below 0. RSI is slightly sloping down at 47, but out of the overbought region, indicating bulls have the upper hand.
LITECOIN / U.S. DOLLAR
Price Analysis
Litecoin continues to trade between the $51 and $46 levels as the bears are not ready to give up the $51 resistance. The bulls are not able to break the strength of bears from the past two weeks. After consistent efforts, the bulls could only make a high just below the $51 mark at $49 and closed the price at $48.6 on Friday, 18th September 2020. The bulls are not allowing the altcoin to sink below the $46 mark by buying the low at $47.5 today. As the twenty-day exponential MA and the basis (middle line) of Bollinger Bands including both bands significantly sloping down, we need to be careful about our stop loss levels. If the bulls can gain more strength and momentum to break the bears, we can expect Litecoin to enter the upper half zone of Bollinger Bands soon.
Key points to mark:
Immediate resistance that LTC is facing = $50.8 (20 EMA) + $51 (basis of BB). If the bulls can take the price above these levels, LTC will test $55.9 (50 MA), followed by $60.5 and then $61.5 (upper BB) resistance level.
Immediate support that LTC is facing = $46. If the bears push the price below this level, LTC will test $40.7 (lower BB) before it falls to the $39 support level.
Indicators
MACD has finally begun to accelerate. The MACD line is moving further into the negative zone below 0 and has overlapped the signal line. RSI seems to flatten at 42.7 level.
BITCOIN CASH / U.S. DOLLAR
Price Analysis
Bitcoin Cash is trading between the basis (middle line) of Bollinger bands and the $217.5 level after crossing above the minor resistance of $235. It has also made a long-legged Doji candle just like Bitcoin, indicating indecision in the market. The bulls are trying their best to push the altcoin into the upper half region of the Bollinger Bands, above its twenty-day exponential MA. BCH could make a high at its 20-day EMA and the basis of BB at $238.8 and closed the price at $232.8 on Friday, 18th September 2020. The bulls are not letting the cryptocurrency slip off below the $217.5 mark by buying it back from a low of $230 level itself today. As the 20 EMA and the basis of BB including both the lower and upper bands slope down significantly, we need to set our stop loss levels right, to not less than 2% below.
Key points to mark:
Immediate resistance that BCH is facing = $237 (basis of BB) + $239 (20 EMA) + $246. If bulls take BCH above these levels, it will face resistance at $270.5 (50 MA), followed by $278.8 (upper BB) + $280.5 before rising to $330 resistance level.
Immediate support that BCH is facing = $217.5. If bears push BCH below this level, it will test $200 support, followed by $195.8 (lower BB) below which the price might sink further into lower levels.
Indicators
The MACD line has sloped up crossing above the signal line, both still moving in negative momentum below 0. RSI has flattened at 42.6, but out of the overbought area, indicating that bulls are back in the game.
